Infineon completes sale of ProMOS shares, says report

BERLIN -- Infineon Technologies AG has sold the last of its shares in ProMOS Technologies Inc., the Taiwanese DRAM making joint venture it founded with Mosel Vitelic Inc. in 1996, according to a Dow Jones report that cited an Infineon spokesman as its source.

Infineon held 30.7 percent ProMOS and the company has been selling off ProMOS shares on the open market since the beginning of 2003 prompted by a dispute with Mosel (see January 11 story)

Infineon chose to exit ProMOS rather than carry on its partnership with Mosel after Infineon confirmed a rift had developed between the two companies, reportedly over Mosel's use of its holding in ProMOS as collateral for loans.

Mosel has been experiencing financial difficulties during 2003 (see May 29 story).